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Health Net Posts Profit,
Amid Higher Premiums

A Wall Street Journal Online NEWS ROUNDUP

Updated July 26, 2002 12:01 a.m. ET

Health Net Inc. swung to a profit for the second quarter as the health insurer discarded plans that were losing money, raised its premiums and controlled costs. The company issued an outlook that was in line with Wall Street expectations.

Health Net, Woodland Hills, Calif., Thursday reported net income of $64.7 million, or 51 cents a share, compared with a net loss of $14.2 million, or 12 cents a share, a year earlier. Revenue fell...